Reuters: Rise Light & Power to Redevelop Ravenswood Power Plant in New York as Renewable Energy Hub

Rise Light & Power, a subsidiary of New York-based private equity investment firm LS Power Group, said on Tuesday it will redevelop its 27-acre Ravenswood generating station in New York as a renewable energy hub.

Under its “Renewable Ravenswood” plan, the company said it aimed to integrate clean energy sources, including offshore wind and upstate wind and solar, directly into New York City’s electric grid in an effort to meet the state’s greenhouse gas reduction targets.

New York has mandated that 70% of the state’s electricity come from renewable sources by 2030 and all power come from zero-emission sources by 2040.

According to the news release, “if approved by regulators, Ravenswood would power more than 2 million New York homes with renewable energy, in addition to providing clean heating and cooling for up to 15,000 local residences.”

Rise plans to file the first formal plan and detailed application with state energy regulators and authorities later this year.

Reporting by Kavya Guduru in Bengaluru Editing by Matthew Lewis